BlackRock Inc. Takes $24.96 Million Position in Norwood Financial Corp. $NWFL

BlackRock Inc. purchased a new stake in shares of Norwood Financial Corp. (NASDAQ:NWFL - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 776,358 shares of the financial services provider's stock, valued at approximately $24,960,000. BlackRock Inc. owned about 7.13% of Norwood Financial at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NWFL. Deutsche Bank AG purchased a new position in Norwood Financial in the 2nd quarter worth approximately $323,000. Bank of New York Mellon Corp bought a new position in Norwood Financial in the 2nd quarter worth $1,288,000. Walleye Capital LLC bought a new position in Norwood Financial in the 2nd quarter worth $323,000. Bank of America Corp DE lifted its position in shares of Norwood Financial by 124.1% in the 1st quarter. Bank of America Corp DE now owns 18,483 shares of the financial services provider's stock worth $544,000 after purchasing an additional 10,237 shares during the period. Finally, Gateway Wealth Partners LLC purchased a new stake in shares of Norwood Financial in the 1st quarter worth about $518,000. Hedge funds and other institutional investors own 28.08% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NWFL. Stephens reiterated a "mixed" rating and set a $35.00 price target (up from $34.00) on shares of Norwood Financial in a research report on Thursday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Norwood Financial in a report on Friday, July 24th. Finally, Wall Street Zen cut Norwood Financial from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Norwood Financial Stock Performance

Norwood Financial stock opened at $34.61 on Thursday. Norwood Financial Corp. has a twelve month low of $23.82 and a twelve month high of $35.45. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $377.25 million, a P/E ratio of 11.93 and a beta of 0.54. The stock's 50 day moving average is $32.98 and its 200 day moving average is $31.12.

Norwood Financial (NASDAQ:NWFL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.01). Norwood Financial had a net margin of 18.68% and a return on equity of 12.88%. The company had revenue of $29.37 million for the quarter, compared to analysts' expectations of $28.10 million. On average, equities research analysts predict that Norwood Financial Corp. will post 3.47 earnings per share for the current fiscal year.

Norwood Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, July 15th. Norwood Financial's payout ratio is currently 44.14%.

Insider Activity

In other news, Director James Shook purchased 3,100 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were bought at an average price of $34.55 per share, for a total transaction of $107,105.00. Following the purchase, the director directly owned 12,586 shares in the company, valued at approximately $434,846.30. This trade represents a 32.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.10% of the stock is currently owned by corporate insiders.

Norwood Financial Profile

Norwood Financial Corp. operates as the bank holding company for Wayne Bank that provides various banking products and services. The company accepts a range of deposit products, including interest-bearing and non-interest-bearing transaction accounts, and statement savings and money market accounts, as well as certificate of deposits. It also provides commercial loans comprising lines of credit, revolving credit, term loans, mortgages, secured lending products, and letter of credit facilities; municipal finance lending; construction loans for commercial construction projects and single-family residences; land loans; construction financing; consumer loans; mortgage lending to finance principal residences and second home dwellings; and indirect dealer financing of new and used automobiles, boats, and recreational vehicles.

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